Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

June 14, 2022
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Norio Nagamine, Head of Ichigo OfficeTel: +81-3-3502-4891

Proposed Amendments to Articles of Incorporation andNomination of Directors
Ichigo Office’s Board of Directors decided today to submit the following amendments
to its Articles of Incorporation (AOI) and Director candidates for approval at its
Shareholder Meeting scheduled on July 30, 2022.
1. Proposed Amendments to the AOI
Pursuant to revisions made to ASBJ Standard No. 30 (Accounting Standard for Fair
Value Measurement), ASBJ Standard No. 10 (Accounting Standard for FinancialInstruments), and any related new or revised accounting standards and implementation
guidelines pertaining to the asset valuation of securities and rights associated with
derivative transactions, Ichigo Office is proposing to amend the relevant parts of its
AOI (Article 34, Clause 1, Items 6 and 8) as follows.

(Amended areas underlined)
Current
After Amendment
Article 34 Asset Valuation Method, Standards, Article 34 Asset Valuation Method, Standards,
and Reference Dateand Reference Date
1. (omitted)

1. (no change)(1) – (5) (omitted)(1) – (5) (no change)(6) Securities Prescribed in Article 31, Clause
4, Item 4Securities for which a market price isavailable are valued based on such market
price. If no market price is available,securities will be valued based on areasonably calculated price.

(6) Securities Prescribed in Article 31, Clause
4, Item 4
Held-to-maturity bonds are valued basedon acquisition price and other securities
are valued based on market price. If nomarket price is available, securities will bevalued based on acquisition price.

1Current

After Amendment(7) (omitted)(7) (no change)(8) Rights Associated with DerivativeTransactions Prescribed in Article 31,
Clause 4, Item 7(8) Rights Associated with Derivative
Transactions Prescribed in Article 31,
Clause 4, Item 7(i) Rights and obligations arising fromtransactions of derivatives listed on afinancial instruments exchange
Derivative value is based on the pricecalculated using the final price on thefinancial instruments exchange (i.e.,closing price. If there is no closing
price, the indicative price, i.e., thelowest publicly available ask or highest
publicly available bid, or the mid-priceof the two prices if both are available).
If there is no final price on the sameday, derivative value is based on theprice calculated using the most recent
final price.
(ii) Rights and obligations arising fromtransactions of derivatives not traded on afinancial instruments exchange
Derivative value is based on the pricecalculated using a reasonable method
in line with market price. If it isdifficult to calculate a fair value, thevalue will be based on the transaction
price.
(iii) Notwithstanding (i) and (ii) above, hedge
accounting is applied to derivatives thatmeet hedge accounting requirements
under the accounting standards and othergenerally accepted corporate accounting
practices for financial instruments, andspecial accounting treatment is applied toderivatives that meet special accounting
treatment requirements under theaccounting standards for financial
instruments.

(i) Rights and obligations arising fromderivative transactions
The net derivative value will be valued atmarket price.

(9) – (10) (omitted)(9) – (10) (no change)2(deleted)(ii) Notwithstanding (i) above, hedge
accounting is applied to derivatives thatmeet hedge accounting requirements
under the accounting standards and othergenerally accepted corporate accounting
practices for financial instruments, andspecial accounting treatment is applied toderivatives that meet special accounting
treatment requirements for interest rate
swaps under the accounting standards andpractical guidelines for financial
instruments

2. Nomination of Directors
Due to the expiration of the Directors’ current terms of office as of the end of theShareholder Meeting scheduled on July 30, 2022, Ichigo Office’s Board of Directors isproposing the election of a new Executive Director, Takaaki Fukunaga, the re-electionof Supervisory Director, Masahiro Terada, and the election of a new Supervisory
Director, Noriko Ichiba.
To ensure the minimum number of Directors as required by law, Ichigo Office’s Boardof Directors is also proposing the election of a new Reserve Executive Director and anew Reserve Supervisory Director.
Candidate Profiles
TitleName(Date of Birth)

Career Summary, Positions, Responsibilities, andImportant Concurrent Positions
October 1998
October 2004
October 2005
September 2010

ExecutiveDirector(Candidate)(New)

January 2011
Takaaki Fukunaga(October 29, 1972)

October 2014

December 2015
March 2017
April 1996May 1998
May 2000
SupervisoryDirector(Candidate)

Masahiro Terada(May 7, 1968)

August 2002
September 2003
August 2004
January 2006
October 2011
February 2022

3

KPMG Tokyo
Representative, Fukunaga C.P.A. Office(current)
Representative Director, Global Solutions
Consulting Co., Ltd. (current)
Supervisory Director, Ichigo Office(current)
External Corporate Auditor, GreenOak
Investment Management K.K. (presentlyBentall GreenOak K.K) (current)
External Corporate Auditor, Ticket Guard
Small Amount & Short Term InsuranceCo., Ltd. (presently AWP Ticket Guard
Small Amount & Short Term InsuranceCo., Ltd.) (current)
Corporate Auditor, PP Japan Co., Ltd.
(current)
External Corporate Auditor, GMO
Registry, Inc. (current)
Qualified as Attorney at Law (DainiTokyo Bar Association)
In-house Counsel, Daiwa Securities Co.,
Ltd. (presently Daiwa Securities GroupInc.)
In-house Counsel, Morgan Stanley Japan
Limited (presently Morgan Stanley
MUFG Securities Co., Ltd.)Duke University School of Law
Visiting Attorney, Nixon Peabody LLP
Joined City-Yuwa Partners
Partner, City-Yuwa Partners (current)
Supervisory Director, Ichigo Office(current)
Independent Director, Shinsei Bank,Limited (current)Name(Date of Birth)

Title

Career Summary, Positions, Responsibilities, andImportant Concurrent Positions
October 1992
July 1997
August 1998

Supervisory
Director(Candidate)(New)

Noriko Ichiba(May 15, 1971)

May 2000
November 2002
August 2008
October 2008
June 2021
October 2006

Reserve
ExecutiveDirector(Candidate)

Keisuke Chiba(September 10, 1979)

January 2010
September 2014
May 2016
December 2019
December 2012

Reserve
Supervisory
Director(Candidate)

Nagahisa Kita
(April 15, 1984)

January 2013
April 2015
January 2018
January 2020

Tohmatsu & Co. (presently Deloitte
Touche Tohmatsu LLC)
Tadao Kato Accounting Office
Taiyo Audit Corporation (presently Grant
Thornton Taiyo LLC)
Qualified as Certified Public Accountant
Representative, Ichiba Certified Public
Accountant Office (current)
Qualified as Certified Tax Accountant
Representative, UPRISE Certified Tax
Accountant’s Co. (current)
External Auditor, Daiho Corporation(current)
Qualified as Attorney at Law (Tokyo BarAssociation)
Atsumi & Partners (presently Atsumi &Sakai)
Secondment, Mitsui & Co., Ltd. Legal
Department
Joined Hokuto Law OfficePartner, Hokuto Law Office (current)
Director, Shodensya Holdings Co., Ltd.
(presently SDS Holdings Co., Ltd.)
Director, Shodensya Co., Ltd.
Qualified as Attorney at Law (Tokyo BarAssociation)
Midosuji Legal Profession CorporationPartners Law Office
Representative, AQ Law Office (current)
Partner, Toranomon Daiichi Law Office(current)

Note: None of the Director candidates are related parties of Ichigo Office or its asset
management company nor do they own Ichigo Office shares.
3. Schedule
June 14, 2022
July 8, 2022
July 30, 2022

Board of Directors resolution
Shareholder meeting materials publication (expected)
Shareholder meeting (expected)

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